Conditions of sale

The auction is voluntary and is conducted on behalf of the vendors. The lot shall be sold to the person making the highest bid at a sum equal to the next highest bid plus
a fixed increase. If there is only one bid the lot will be sold for the starting price. In the event of two identical bids
the first bid received has priority.

All bid must be made in Swedish crowns (SEK). All invoices pertaining to auction purchases are made out by AB Philea, the financial and legal counterpart to all buyers and vendors at the
auction.

A buyer’s premium of 25 % is added to the hammer price for both domestic and foreign customers. At the coin auctions the buyer’s premium is 21 %. AB Philea uses the
“Margin scheme” (also known as the “Global System”) meaning that no VAT will be specified on invoices. When incurred, expenses for insurance and postage are also added.

Bids made are binding. In the event of bids being presented by persons on behalf of another (agents) the person presenting the bid is liable to satisfy the sales conditions as if it were his/her
own bid. The person presenting the bid is also responsible for errors made by him/her when acting as agent at the auction. Similarly, the person presenting the bid is liable for any errors or
misunderstandings in the case of unconfirmed bids by telephone or telegraph.

The auction will be conducted with as much care as possible but without any undertaking on our part. We reserve the right to reject persons from the auction and decline bids without giving
any reason for doing so. We also reserve the right, in the event of misunderstanding or differences of opinion, to re-offer the goods for auction.

Payment for lots purchased by a bid at the auction shall be made in cash or against a pro forma invoice. The lots remain the property of the vendors until such time as full payment is made.
Payment shall be made within 8 days of the date of invoice. In the event of delay in payment, interest is charged at 2 % of the invoiced sum for each month commenced, plus a reminder fee
of SEK 40. If payment has not been received by us within, at the latest, 30 days after the date of invoice or if the purchaser refuses to pay, we are entitled to sell the lot at the
purchaser’s expense without giving any further notice. If this occurs the sum received on sale, after deduction of sales expenses, will be deducted from the unpaid debt. Any sum remaining
due will be subsequently recovered by legal measures.

Foreign customers will receive pro forma invoices.

Lots are sold in their present condition except where other remarks concerning their quality have been made in the catalogue or on Internet. This means, among other things, that mainly defects
not visible in photographs or deviations from descriptions of quality of individual articles/sets are regarded as defects. For collections and accumulations tradesmen are not entitled to make any
claims, and private consumers’ rights are limited to those stipulated in Section 9 of the Swedish Consumers Sales Act.

Complaints must be presented within a reasonable time after the purchaser discovered or ought to have discovered the defect, normally within 10 days following the purchaser’s receipt
of the lot or his/her having had such opportunity following notification by his/her post office of the lot’s arrival. If a complaint is approved the price of the lot will be repaid to the
purchaser plus any postage.

The auctioneer may in the event of a complaint request a certificate from an impartial well-known expert. Lots with certified authenticity may, if the auctioneer considers it appropriate, only be
returned if at least two impartial and well-known experts have an opinion which varies with that of the person who certified the authenticity.

AB Philea has the sole right to appoint an internationally recognized expert to be consulted, unless alternative arrangements about expertization is agreed prior to placing a bid at the
sale.

The presentation of verbal bids or auction instructions means that the above conditions are approved.

Unless otherwise stated, the catalogue numbers and valuations for philatelic items/lots are taken from Facit for the Nordic countries and from Michel for other countries and territories.

The auction is conducted and sales made are subject to the exclusive jurisdiction of the Swedish courts and is subject to Swedish law.

In the event of any discrepancies in the text arising from translation, the Swedish text shall prevail.